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Bhutan is enhancing its economy by integrating Bitcoin and other digital assets into its strategic reserve, particularly through the newly established Gelephu Mindfulness City, which aims to be an economic hub. The kingdom, which began Bitcoin mining in 2019, currently holds over 11,000 Bitcoins and is expanding its mining facilities, leveraging its hydropower resources for environmentally friendly operations. As global interest in Bitcoin grows, Bhutan's unique approach positions it as a notable player in the crypto landscape.
Gelephu Mindfulness City (GMC) in Bhutan plans to incorporate Bitcoin, Ethereum, and BNB into its strategic reserves, marking a pioneering move for Special Administrative Regions. This initiative aims to enhance economic resilience and is part of a broader strategy to leverage digital assets and Bitcoin mining for economic growth.The city, envisioned as a sustainable urban model, will be powered entirely by renewable energy and is strategically located to serve over two billion people in South Asia. With new digital asset laws in place, GMC is set to become a hub for digital innovation and blockchain technology.
Bhutan's Gelephu Mindfulness City (GMC) plans to establish a strategic cryptocurrency reserve, including major assets like Bitcoin and Ether, to enhance economic resilience and capitalize on Bitcoin mining opportunities. The initiative, which will involve discussions with government officials and industry leaders in March, aims to recognize multiple established cryptocurrencies for liquidity and security. The GMC project, envisioned as an economic corridor between South Asia and Southeast Asia, is set to be completed in 21 years and follows Bhutan's existing holdings of $1.1 billion in Bitcoin and other digital assets.
Jigme Khesar Namgyel Wangchuck
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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Jigme Khesar Namgyel Wangchuck
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15:00 09.01.2025
Bhutan's Gelephu City to Integrate Bitcoin and Ethereum into Reserves
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bhutan plans strategic cryptocurrency reserve to enhance economic resilience
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